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ABN notches up third French exit

ABN AMRO Capital has signed an agreement to sell De Dietrich to the De Dietrich family, creating a new family holding company – La Financiere Jaegerthal.

De Dietrich was originally acquired by ABN AMRO Capital in 2000 at an enterprise value of €520m in one of the largest public- to- private delistings from the French stock exchange.

ABN AMRO Capital syndicated the transaction to three financial partners, Rhône Group, Paul Capital and NPM Capital.

In July this year, ABN AMRO Capital sold De Dietrich Thermique, the heating division of De Dietrich, the Netherlands-based heating equipment company, Remeha. De Dietrich’s railway division, Cogifer and Cogifer TF, was sold in September 2002 to German group Vossloh.

The sale of De Dietrich, comprising the remaining chemical equipment division, De Dietrich Process Systems, concludes ABN AMRO Capital’s involvement in the company.

De Dietrich is a global supplier of process installation and equipment for the chemical and pharmaceutical industry. It employs 1,300 people, of whom 650 are in France, and has a turnover of €160m.